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USTR Seeks Comment on U.S.-Chile Free Trade Agreement

Washington, DC, December 19, 2000 - The Office of the United
States Trade Representative (USTR) published a
notice of intent to conduct negotiations with the Republic of
Chile on a bilateral free trade agreement. The USTR seeks
assistance regarding the specific negotiating objectives for
particular sectors, including asset management. Comments are due to
the USTR by January 29, 2001.

In practice, the Chilean government generally permits U.S. firms
to manage mutual funds and pension assets; Chile, however, has not
entered into any trade agreements that contain market access
commitments for asset management. Consequently, Chile has not
provided a measure of legal certainty to U.S. firms doing business
in that country and could diminish market access levels in the
future.

The negotiation of a U.S.-Chile free trade agreement provides an
opportunity to ensure that Chile commits to eliminating any
barriers that prevent foreign firms from establishing and operating
wholly owned affiliates, and that it does not impose regulatory
requirements which deny effective market access to U.S. firms.